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Telecoms and electronic companies join F1

Vodafone and Intel have signed long-term sponsorship deals with top Formula One teams worth tigether around $500 million. Vodafone has signed with McLaren Mercedes and Intel with BMW.

The McLaren team will be renamed Vodafone McLaren Mercedes. Peter Bamford, Vodafone’s chief marketing officer, said it was “a very strategic step for us”. Vodafone previously worked with Ferrari, but allagedly wanted more "flexibility".

Intel's sponsorship of BMW lasts five-years.